Morning Recommendation on April 17

Yesterday, the overall performance of Bitcoin showed a narrow range of fluctuations during the day, with prices hovering between 83000 and 84500. In the evening, bulls exerted force, driving prices to rise quickly, reaching a peak of around 85500. However, after Powell's speech in the early morning, market sentiment turned sharply negative, and Bitcoin prices fell significantly, dropping to a low of around 83100, before rebounding somewhat. As of now, the price is fluctuating around 84200.

From a technical analysis perspective, in the 1-hour candlestick chart, the MACD indicator shows that bullish momentum continues to shrink, indicating that the upward momentum is gradually weakening; the KDJ indicator's three lines are diverging downward, suggesting short-term price has downward pressure. Meanwhile, Bitcoin prices have moved from the upper Bollinger Band towards the middle band, indicating that the short-term price trend has shifted from strong to neutral and slightly weak. Considering the current technical signals, a high short strategy is recommended.

Trading Suggestion

When Bitcoin prices rebound to the range of 84500 - 84900, you can consider positioning for a short. Set target price levels in the range of 82500 - 83000, and be sure to set strict stop-losses. #BTC